Avantax Advisory Services Inc. Boosts Stake in Prologis, Inc. (NYSE:PLD)

Key Points

• Avantax Advisory Services Inc. increased its stake in Prologis, Inc. by 18.2% in the first quarter, now holding 52,718 shares valued at $5.89 million.
• Prologis recently reported a quarterly earnings of $1.46 EPS, surpassing analysts' expectations and marking a year-over-year revenue increase of 8.8%.
• Institutional ownership of Prologis is significant, with approximately 93.50% of shares held by hedge funds and other institutional investors.

Avantax Advisory Services Inc. lifted its position in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 18.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,718 shares of the real estate investment trust's stock after acquiring an additional 8,127 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Prologis were worth $5,893,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PLD. REAP Financial Group LLC raised its position in shares of Prologis by 40.0% during the fourth quarter. REAP Financial Group LLC now owns 294 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 84 shares during the period. Olde Wealth Management LLC acquired a new position in Prologis during the first quarter worth $43,000. Cornerstone Planning Group LLC raised its holdings in Prologis by 63.6% during the first quarter. Cornerstone Planning Group LLC now owns 391 shares of the real estate investment trust's stock worth $44,000 after buying an additional 152 shares during the last quarter. Missouri Trust & Investment Co raised its holdings in Prologis by 59.6% during the first quarter. Missouri Trust & Investment Co now owns 399 shares of the real estate investment trust's stock worth $45,000 after buying an additional 149 shares during the last quarter. Finally, Bogart Wealth LLC raised its holdings in Prologis by 56.2% during the first quarter. Bogart Wealth LLC now owns 417 shares of the real estate investment trust's stock worth $47,000 after buying an additional 150 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on PLD. Royal Bank Of Canada lowered their target price on shares of Prologis from $128.00 to $117.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 29th. Wolfe Research downgraded Prologis from an "outperform" rating to a "peer perform" rating in a research note on Monday, April 21st. UBS Group increased their price objective on Prologis from $106.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Truist Financial lowered their price target on Prologis from $123.00 to $120.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Finally, Mizuho lowered their price target on Prologis from $117.00 to $105.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $120.74.

Prologis Stock Performance

Shares of NYSE:PLD traded down $0.60 during mid-day trading on Thursday, reaching $107.89. The company had a trading volume of 913,777 shares, compared to its average volume of 4,590,547. The company has a current ratio of 0.19, a quick ratio of 0.41 and a debt-to-equity ratio of 0.60. The company's 50-day moving average price is $107.51 and its 200-day moving average price is $109.82. Prologis, Inc. has a one year low of $85.35 and a one year high of $132.57. The firm has a market cap of $100.12 billion, a price-to-earnings ratio of 29.19, a PEG ratio of 2.75 and a beta of 1.23.

Prologis (NYSE:PLD - Get Free Report) last issued its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.05. Prologis had a return on equity of 5.96% and a net margin of 40.29%. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the company posted $1.34 earnings per share. The business's revenue was up 8.8% on a year-over-year basis. As a group, equities research analysts anticipate that Prologis, Inc. will post 5.73 EPS for the current fiscal year.

Prologis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th were paid a $1.01 dividend. The ex-dividend date was Tuesday, June 17th. This represents a $4.04 annualized dividend and a dividend yield of 3.74%. Prologis's payout ratio is 109.49%.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.